With a firm financial foundation, we will remain focused on using our favorite entrepreneurial management model to build the leading giant smart products to ensure that ideal cars can travel through the cycle and use technology to become a long-term enterprise that will create value for users and society.

Nov 26, 2025 / receipt, needs a key / Xiang Li, CEO | earnings call 2025-11-26 | transcript f7f6818e-193f-4619-b05e-e55d6af75634 | chars 15869-16175 | segment 15

The second point is that we emphasize regionalization at the marketing end. Then, according to the different regional markets, the policies are precisely defined. The sales system has been adjusted to manage 23 regions in total. The core logic is to question and then set policies. The northern region focuses on the promotion and focus on the transmission of heavy-duty vehicles, and the advantages such as stability of the winter travel route. In the southern region, the heavy-duty electric vehicles China China China China China China At the end of the channel, we will optimize the combination of stores for 1, 2, and 3-line cities, and improve the transfer of goods and customers.

Aug 28, 2025 / receipt, needs a key / Ma Donghui, other | earnings call 2025-08-28 | transcript 9aa78496-75d9-4d2b-becb-219954388237 | chars 32041-32727 | segment 32

We will also rebuild the car industry and bring revolutionary changes to travel.

Aug 28, 2025 / receipt, needs a key / Xiang Li, CEO | earnings call 2025-08-28 | transcript 9aa78496-75d9-4d2b-becb-219954388237 | chars 7088-7168 | segment 7

By the time our new BEV model launches, we target to have more than 2,000 charging stations in operation, which will scale up to 4,000 by the end of 2025, next year. Our supercharging station network now covers nine national highways, a total of over 54,000 kilometers. with a coverage ratio of 63 percent of national highway trunk lines. By the end of 2025, we will build more than 1,200 supercharging stations along highways covering 90 percent of national highways. In addition to highway and urban coverage, we will also selectively cover medium and long distance self-driving routes to meet the needs of our users for family travel.

Oct 31, 2024 / receipt, needs a key / James, other | earnings call 2024-10-31 | transcript e271cfd5-50e0-4545-a6a1-581fa3928cff | chars 38275-38912 | segment 39

Our cost of sales increased from RMB96.4 billion in 2023 to RMB114.8 billion in 2024, which was primarily due to the increase in vehicle deliveries, partially offset by the lower average cost of sales due to different product mix and cost reduction.

filing / Apr 10, 2026 / receipt

New geographic markets may have competitive conditions, user preferences, and discretionary spending patterns that are more difficult to predict or satisfy than our existing markets.

filing / Apr 10, 2026 / receipt

The increased tariffs further impose additional challenges and constraints on any future international expansion to the United States we may undertake, although we do not currently sell vehicles in the United States.

filing / Apr 10, 2026 / receipt

International expansion may also require significant capital investment, which could strain our resources and adversely impact current performance, while adding complexity to our current operations.

filing / Apr 10, 2026 / receipt